On July 5, 2023, Elizabeth T. Beale notified Old Point Financial Corporation of her decision to resign as Chief Financial Officer & Senior Vice President/Finance and principal financial and accounting officer of the Company and as Chief Financial Officer & Executive Vice President of The Old Point National Bank of Phoebus (the âBankâ), the Companyâs wholly owned national bank subsidiary. Ms. Beale is expected to remain with the Company in her current roles until on or about September 4, 2023, to assist in the transition of her responsibilities. Ms. Bealeâs resignation does not entitle her to additional compensation other than what she is entitled to under the Companyâs existing plans.
Ms. Bealeâs resignation is not the result of any disagreement with the Company or Bank on any matter relating to the Companyâs or Bankâs operations, policies, practices, financial disclosures, accounting practices or internal controls. The Company will be conducting a search for a new Chief Financial Officer. The Company thanks Ms. Beale for her dedication and contributions to the Company and the Bank; she has been an invaluable asset for the Company over the last five years and will be missed.